v3.26.1
Share-Based Payments (Tables)
3 Months Ended
May 02, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity A summary of the Company’s stock option activity for the 13 weeks ended May 2, 2026 follows:

 

 

 

Options

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Remaining Contractual Term

 

 

Aggregate Intrinsic Value

 

 

 

(In thousands)

 

 

 

 

 

(In years)

 

 

(In thousands)

 

Outstanding - January 31, 2026

 

 

4,543

 

 

$

16.34

 

 

 

 

 

 

 

Granted

 

 

934

 

 

$

16.52

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

$

-

 

 

 

 

 

 

 

Cancelled

 

 

(267

)

 

$

21.41

 

 

 

 

 

 

 

Outstanding - May 2, 2026

 

 

5,210

 

 

$

16.11

 

 

 

4.6

 

 

 

13,771

 

Vested and expected to vest - May 2, 2026

 

 

5,052

 

 

$

16.03

 

 

 

4.4

 

 

 

13,708

 

Exercisable - May 2, 2026 (1)

 

 

1,973

 

 

$

12.10

 

 

 

3.4

 

 

 

9,557

 

 

(1)
Options exercisable represent "in-the-money" vested options based upon the weighted-average exercise price of vested options compared to the Company’s stock price on May 2, 2026.
Black-Scholes Option Valuation Assumptions

The fair value of stock options was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

 

 

13 Weeks Ended

 

 

 

May 2,

 

 

May 3,

 

Black-Scholes Option Valuation Assumptions

 

2026

 

 

2025

 

Risk-free interest rate (1)

 

 

4.0

%

 

 

3.9

%

Dividend yield

 

 

2.7

%

 

 

3.5

%

Volatility factor (2)

 

 

53.9

%

 

 

47.5

%

Weighted-average expected term (3)

 

4.5 years

 

 

4.5 years

 

 

(1)
Based on the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected life of our stock options.
(2)
Based on historical volatility of the Company’s common stock.
(3)
Represents the period of time options are expected to be outstanding. The weighted-average expected option terms were determined based on historical experience.
Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity is presented in the following table:

 

 

 

Time-Based Restricted
Stock Units

 

 

Performance-Based Restricted
Stock Units

 

 

 

May 2, 2026

 

 

May 2, 2026

 

(Shares in thousands)

 

Shares

 

 

Weighted-Average Grant Date Fair Value

 

 

Shares

 

 

Weighted-Average Grant Date Fair Value

 

Non-vested - February 1, 2025

 

 

2,994

 

 

$

15.12

 

 

 

2,444

 

 

$

16.02

 

Granted

 

 

1,492

 

 

$

16.51

 

 

 

1,149

 

 

$

16.35

 

Vested

 

 

(1,359

)

 

$

15.31

 

 

 

(1,211

)

 

$

14.74

 

Cancelled

 

 

(80

)

 

$

15.17

 

 

 

(13

)

 

$

19.34

 

Non-vested - May 2, 2026

 

 

3,047

 

 

$

15.71

 

 

 

2,369

 

 

$

16.82